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November 16, 2011

Meaningful Gifts Made Possible this Holiday Season

US$30 microloans support CU members in Haiti, Sri Lanka, Ethiopia and Afghanistan

In Sri Lanka, getting a bank loan requires collateral and salary slips, making loans nearly impossible for fishermen who sell their catch for cash each day. Thanks to a credit union loan, Sebastian Lusion was able to repair his boat and continue providing for his wife and three children.

MADISON, Wis. — Gift-giving for credit union boards of directors and staff could not be easier this year through the Worldwide Foundation for Credit Unions' holiday campaign.

The campaign encourages credit union advocates to make donations on behalf of their 2011 holiday gift recipients. Gifts of US$30 will help World Council of Credit Unions (WOCCU) support farming and microbusiness loans to credit union members in Haiti, Sri Lanka, Ethiopia and Afghanistan — which can make the difference between a self-sufficient small business and a family left in need.

"This is a great holiday gift alternative for board members and credit union staff," said Worldwide Foundation Executive Director Valerie Breunig. "Instead of giving typical corporate gifts, holiday donations will help empower the working poor in developing countries. As each small loan is repaid, donations keep circulating, helping more and more hardworking families reach financial stability."

Donations may be made at www.woccu.org/holidaycampaign. All holiday donors will receive a recognition card that can be given to gift recipients to acknowledge the donation made on their behalf.

World Council of Credit Unions is the global trade association and development agency for credit unions. World Council promotes the sustainable development of credit unions and other financial cooperatives around the world to empower people through access to high quality and affordable financial services. World Council advocates on behalf of the global credit union system before international organizations and works with national governments to improve legislation and regulation. Its technical assistance programs introduce new tools and technologies to strengthen credit unions' financial performance and increase their outreach.

World Council has implemented more than 290 technical assistance programs in 71 countries. Worldwide, 57,000 credit unions in 103 countries serve 208 million people. Learn more about World Council's impact around the world at www.woccu.org.

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Contact: Rebecca CarpenterOrganization: World Council of Credit UnionsE-mail: rcarpenter@woccu.orgPhone: +1-608-395-2031